Inflation Spiked While Personal Income Dropped in April, Key Economic Report Shows

Two men in grocery aisle, shopping

A key measurement of consumer spending and personal income showed the economy experienced higher-than-expected inflation in April, according to the Department of Commerce.

The Personal Consumption Expenditures (PCE) price index — a main inflation indicator used by the Federal Reserve that measures consumer price increases  — ticked up by 0.6% while the core PCE index, which excludes food and energy, increased 0.7% in April, the Commerce Department reported Friday. The Disposable Personal Income index, which measures how much after-tax income Americans have — decreased by 14.6%, or $3.22 trillion.

Economists had expected the PCE measure to come in lower than it did, CNBC reported.

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Citizenship Question Has Been Included on Canada’s Census Since 1901

  The debate over whether or not to include a citizenship question on the 2020 U.S. census has become the latest division in American politics, but a similar question has been included on Canada’s census for more than a century. On Saturday, the Canadian Broadcasting Corporation (CBC) reported that America’s…

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Department of Commerce Awards $600,000 to Help Northeast Ohio Address Economic Downturn

  The U.S. Department of Commerce recently announced a $600,000 investment to help Northeast Ohio address the economic downturn in the region caused by the closure of the General Motors Lordstown facility and the decline in the coal economy. In a press release, the DOC said its Economic Development Administration…

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Committee on Foreign Investment May Not Be Able to Handle Its Exploding Caseload

by Riley Walters   The Committee on Foreign Investment in the U.S. is often compared to a black box. Investors may be aware of what it does, but few know what really goes on inside. The nine members of the committee, drawn from various federal agencies, are in charge of…

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Wilbur Ross Orders NOAA To Give Firefighters All The Water They Need To Fight WildFires

wildfire

by Tim Pearce   Commerce Secretary Wilbur Ross is using resources in his department to ensure that California firefighters are armed with enough water to fight wildfires scorching the state. Ross ordered the National Oceanic and Atmospheric Administration and other federal agencies to prioritize water use for fighting fires over previously arranged…

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